Ather Energy has raised $128 million in a Series E round of funding led by National Investment and Infrastructure Fund Limited (NIIFL), existing investor Hero MotoCorp, and others.
Ather Energy plans to use the funding to expand manufacturing facilities, invest in research and development, charging infrastructure, and grow its retail network.
Ather registered the highest-ever monthly sales in April 2022, delivering 3,779 units, and noted that the booking orders for its flagship product — Ather 450X — were growing at 25 percent quarter-on-quarter.